INTERNATIONAL PAYMENTS, COLLECTIONS AND TRANSACTION INITIATION

International ACH

International ACH (IACH) payments are high volume, non-urgent, and often repetitive cross-border payments.  The primary sources for these low-value foreign currency payments are supplier payments, payroll, and personal remittances made to foreign countries.  Approximately 50 percent of the estimated 80 million payments made from the U.S. to top trading partners are via IACH services.  If you participate in the global marketplace, your need for these payments is likely to grow. IACH is part of a spectrum of global payments capabilities, which enable you to work with Wachovia as your single payments provider.

International Wires

If your company needs to make payments in U.S. dollars or foreign currencies to vendors, subsidiaries, or affiliates via wire, Wachovia provides your company with the ability to initiate international wires directly from your office. Our global network of over 3,000 correspondents helps ensure the most efficient and secure delivery of your U.S. dollar payments. You can initiate wire payments  via computer, or alternative means.

International Drafts

If your company needs to make payments in foreign currencies or in U.S. dollars to foreign payees, and the payment must be in check form as opposed to wire, Wachovia offers you the ability to issue FX Drafts. Drafts can be issued by using either a PC, or manually.

Integrated Payables

In addition to a full array of domestic payment options, Wachovia's Integrated Payables service accepts and processes instructions for the outsourcing of international wires and foreign drafts. All payment instructions, both domestic and international, can be included in a single payment instructions file.

Global Check Clearing

If your company is selling overseas and receives payment in the form of foreign currency -denominated or US dollar checks drawn on foreign banks, Wachovia can process these items for your company through our Global Check Clearing service.

Information Reporting/Transaction Initiation Services

Wachovia offers you the ability to electronically initiate international payments including wires and FX drafts, as well multi-currency balance and transaction reporting.

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